OpenIGO | International Careers Development Network
IFC Internships

Internship Programs

IFC Internships

Paid Internships

The goal of the IFC Global Internship Program (GIP) is to offer candidates with an opportunity to be exposed to the mission and work of IFC and the World Bank Group as a whole, as well as to be part of the largest private sector development institution in the world. The IFC Internship Program encourages individuals to bring in new points of view and innovative ideas to IFC, while cultivating skills in a diverse and highly encouraging environment. Besides, it is an opportunity to build an international network of professionals keen to ending extreme poverty and increasing prosperity in the developing world.

 

In pursuit of its mission, the OpenIGO network has developed support and guidance services, with the aim of highly increasing your chances of success in this competitive selection process. These include an Application Review and a Mock Interview – based on the International Finance Corporation (IFC) original model. For more information, access:

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IFC Overview

The International Finance Corporation (IFC) is the biggest global development institution that focuses mainly on the private sector. The IFC helps developing countries in the path to sustainable growth by financing investment, mobilizing capital in international financial markets, as well as providing advisory services to companies and governments. Headquartered in Washington, D.C. (USA), the institution was established in 1956 and is a member of the World Bank Group.

IFC’s main focus: Providing support for sustainable private sector development and growth in developing countries.

Themes addressed by the IFC:

  • Private Sector
  • Sustainability
  • Sustainable Agriculture
  • Poverty Reduction
  • Capital Mobilization
  • Investment
  • Capital Flows

Description of the IFC Internship

What are the fields of study required for the IFC Internship Program?

This internship program includes students and recent graduates from the most diverse fields of knowledge. The areas of study with the highest demand in this program are:

  • Economics
  • Finance
  • Human Development (Public Health, Education, Nutrition, Population)
  • Social Science (Anthropology, Sociology)
  • Agriculture
  • Environment
  • Private Sector Development

What are the tasks performed by the selected for the IFC Internship Program?

The activities performed vary according to the opening and the requirements of the different departments to which interns are allocated. However, generally speaking, the main duties are:

  • Participation in sector-specific market mapping;
  • Investment proposal reviews;
  • Financial modeling;
  • Financial analysis;
  • Portfolio management;
  • Upstream work and advisory services activities.

Other assignments can cover a range of activities in corporate and support departments.

What is the duration of the IFC Internship Program?

The internship period ranges from at least 4 weeks to up to 4 months at most.

What is the weekly workload of the IFC Internship Program?

The internship openings are generally part-time work.

Where are the locations of the IFC Internship Program?

There are openings for IFC’s headquarters in Washington, D.C. (USA) but also for many of IFC’s country or regional offices around the world.

When does the IFC Internship Program start?

The initial date of the internship shall be coordinated between the intern and the organization.

Is there any feedback following the completion of the IOM Internship?

At the end of the internship, the supervisor is in charge of preparing an assessment report of the intern’s performance.

Subsequent employment:

Participation in the internship is not related to future employment with the institution. However, the work experience in the IFC will be a distinctive feature in your curriculum, which may facilitate your hiring by IFC or other international organizations.

IFC Internship - Salary

The stipend amount is based on the needs of IFC’s departments worldwide and the particular profile of the candidate. All interns are paid the same rate per hour by country requirements.

IFC Internship - Requirements

What is the education requirement of the IFC Internship Program?

  • Candidates must be in the first or second-to-last year of a Masters’ level program

It is recommended to check the vacancy’s “Preferred field of study/experience” in the List of Openings provided at IFC’s Global Internship Program website.

What is the language requirement of the IFC Internship Program?

Fluency in English is always required, but proficiency in Spanish, French or other relevant languages may also be required depending on the vacancy.

What is the age requirement of the IFC Internship Program?

Applicants must be at least 18 years old at the time of enrollment.

What is the nationality requirement of the IFC Internship Program?

Applicants must be citizens of a WBG member country.

What are the competencies required for the IFC Internship Program?

The main competencies required are:

  • Technical expertise;
  • Diverse nationalities and experiences;
  • Strong teamwork and interpersonal skills;
  • Leadership capabilities;
  • Geographical mobility;
  • A passion for improving people’s lives through promoting private sector development in emerging markets.

What are the restrictions of the IFC Internship Program?

An applicant may not be a relative of a staff member at IFC according to the following criteria as informed by IFC’s Employment Policy:

Category I relatives: The following close relatives, including relatives by blood or adoption, are not eligible for employment: mother, father, son, daughter, sister, half-sister, brother, half-brother, aunt, uncle, niece, nephew.

Category II relatives: The following close relatives, including relatives by adoption and domestic partners of close relatives, are eligible for employment provided that they are not assigned to the same division or equivalent unit, and neither supervises the other, directly or indirectly, and their duties are not likely to bring them into routine professional contact:

  • Whole relationships: daughter-in-law, son-in-law, sister-in-law, brother-in-law, mother-in-law, father-in-law, grandmother, grandfather, granddaughter, grandson, cousin
  • Step relationships: step-mother, step-father, step-sister, step-brother, step-daughter, step-son, step-aunt, step-uncle
  • Half relationships: half-aunt, half-uncle, half-niece, half-nephew
  • Domestic relationships: mother of domestic partner, father of domestic partner, sister of domestic partner, brother of domestic partner, daughter of domestic partner, son of domestic partner

IFC Internship - Application process

When to apply for the IFC Internship Program?

There is no specific time during the year for submitting your application for an internship. Application deadlines vary depending on the openings and the needs of the organization. Therefore, it is important to search for internship opportunities on the Global Internship Program page.

How to apply for the IFC Internship Program?

The internship application process is done via the Global Internship Program page, where all openings are published, and comprises of the following steps:

  1. Clicking the “Apply Here” option on the Global Internship Program page;
  2. Initial registration;
  3. Filling out the candidate profile (academic and professional background);
  4. Search for an opening in your field of interest;
  5. Filling out the application form;
  6. Submit the application.

What are the phases of the selection process for the IFC Internship Program?

The selection process may vary depending on the department or office to which the intern is applying, but generally comprises the following steps:

  1. Creating a profile and preparing an application;
  2. Submitting the application;
  3. Evaluation of the application;
  4. Competency-based interview;
  5. Selection notifications.

How is the IFC Internship Program interview?

Usually, only selected applicants will be contacted for the interview, which could be by telephone, webex or face to face. The first interview is likely to be a panel interview. The main points covered in the interview vary according to the opening and department chosen. In general, however, the questions address subjective or behavioral aspects, such as your expectations about the job, your interests in the area of expertise you are applying for and your previous experiences.

What are the documents to submit for the IFC Internship Program?

  • Statement of Interest;
  • CV/résumé;

What is the evaluation criteria of the IFC Internship Program?

These are the selection criteria listed by IFC:

  • Strong interest in and commitment to impact investing and sustainable private sector solutions;
  • At least three years of relevant work experience related to the advertised opportunities (previous job positions, paid or unpaid internships, and volunteer work count).
  • Emerging markets experience preferred;
  • For investment-related opportunities, strong analytical, quantitative, communication, negotiation, business development and client relationship skills;
  • Enthusiasm for working in multicultural teams and across borders;
  • Excellent verbal and written communication skills in English; proficiency in one or more languages – Arabic, Chinese, French, Portuguese, Russian, Spanish and Malagasy – strongly preferred.

IFC Internship - Costs

Visa:

You or your sponsoring institution will be responsible for the costs and arrangements of obtaining the visa (if needed to do the internship).

Insurance:

IFC, as an institution within the The World Bank Group, provides basic life and accident insurance, as well as disability and worker’s compensation coverage to all staff.

Accommodation:

You or your sponsoring institution will be responsible for accommodation expenses during the internship period.

Other:

You or your sponsoring institution will be responsible for the costs and arrangements of the trip to the workplace to which you have been assigned.

Other organizations

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